US Congressman reveals XRP, SOL and BTC holdings

Rep. Guy Reschenthaler (R-Pa) recently disclosed various cryptocurrency purchases.

The 41-year-old US lawmaker now owns cryptocurrencies such as Ripple-linked XRP, Solana (SOL) and Bitcoin (BTC). All of these purchases were in the $1,000 to $15,000 range.

Mike Collins (R-Ga.) also announced the purchase of Ski Mask Dog (SKI) earlier this year.

Barry Moore (R-Al) and Jeffrey Jackson (D-NC) are also among US lawmakers who have previously reported significant cryptocurrency transactions.

Back in 2021, the Wall Street Journal reported that a total of 11 members of Congress were cryptocurrency holders, nine of them House of Representatives representatives.

In the meantime, there will be a committee in the US Senate that will specifically look at digital assets.

Related

This committee is led by Senator Cynthia Lummis (R-Wyo.), who famously introduced a bill that would require the Treasury Department to purchase a whopping 1 million Bitcoins over the course of five years.

The 70-year-old senator previously claimed that she first bought Bitcoin back in 2013. She later announced another purchase in 2021.

The U.S. House Ethics Committee released a memo back in 2018 asking House members to disclose cryptocurrency holdings of more than $1,000. Previously, U.S. lawmakers’ cryptocurrency transactions were unknown because stock and bond disclosure rules did not cover the new asset class.

Such statutory disclosures are necessary to see whether lawmakers can get involved.

Sen. Elizabeth Warren (D-Mass.) recently opined that crypto investments represent “a terrible conflict of interest” for lawmakers, and she was pleased that the number of members of Congress who own crypto is relatively small.